The US Hispanic Chamber of Commerce (USHCC), which represents the interests of nearly 3 million Hispanic-owned businesses and over 200 local Hispanic chambers of commerce nationwide, is pleased by the publication of the new rule by the Small Business Administration (SBA) that will expand access to federal contracting opportunities to certified Women-Owned Small Businesses (WOSBs).
This rule identifies 83 industries in which WOSBs are under-represented or substantially under-represented in the federal contract marketplace and provides federal contracting officers the authority to set aside certain contract opportunities for competition limited to certified WOSBs. To qualify under this rule, the firm must be 51 percent owned, controlled and primarily managed by one or more women of U.S. citizenship; the firm must be “small” in its primary industry in accordance with SBA’s size standards for that industry and the WOSB must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.
USHCC President & CEO Javier Palomarez said: “This rule, which will help achieve the statutory goal that 5% of federal contracting dollars go to WOSBs, is another example of SBA’s leadership and commitment to ensuring that more federal contracting dollars are awarded to the small businesses across our country. The SBA rightfully recognizes that small business, which represents over 64% of all jobs in America, is the engine driving the economic recovery of our country.”